Debt Proceeds. The Borrower shall make mandatory principal prepayments of the Term Loans in the manner set forth in Section 4.4(b)(vii) below in amounts equal to one hundred percent (100%) of the aggregate Net Cash Proceeds from any incurrence of Debt (excluding Debt permitted pursuant to Section 11.1) by the Borrower or any of its Restricted Subsidiaries. Such prepayment shall be made within three (3) Business Days after the date of receipt of Net Cash Proceeds of any such transaction.
Debt Proceeds. The Borrowers shall make mandatory principal prepayments of the Term Loans in the manner set forth in Section 4.5(c)(vi) in amounts equal to one hundred percent (100%) of the aggregate Net Cash Proceeds from any issuance of Debt permitted by Section 11.1(c) or (i) by the Company, any Borrower or any of their respective Subsidiaries. Such prepayment shall be made within three (3) Business Days after the date of issuance of any such Debt.
Debt Proceeds. Upon the issuance of any Debt (other than Debt permitted to be incurred pursuant to Section 5.02(b)), the Borrower shall prepay an aggregate principal amount of the Loans in an aggregate amount equal to the Net Cash Proceeds thereof. Each such prepayment of the Loans shall be applied (i) to the scheduled principal payments of the Loans in inverse order of maturity in respect of each Facility and (ii) first, to the prepayment of Term A Loans in full in Cash, including the principal amount due on the Maturity Date and second, to the prepayment of Term B Loans in full in Cash, including the principal amount due on the Maturity Date.
Debt Proceeds. (a) The Company shall ensure that, subject to Clause 7.7 (Application of prepayments), an aggregate amount equal to any Debt Proceeds is immediately applied in mandatory repayment and cancellation of the Facility in accordance with Clause 7.7 (Application of prepayments).
(b) Paragraph (a) above shall not apply to Debt Proceeds received by the Company or any other member of the Group under:
(i) debt capital markets issues by a member of the Group (other than the Company) the proceeds of which are used in full to repay or refinance Financial Indebtedness existing on the Signing Date under the Euro Notes or the USD Notes in a maximum aggregate amount (taken together with any other such repayment or refinancing since the Signing Date) not exceeding the aggregate of USD 500,000,000 and Euro 500,000,000 (or in their equivalent in another currency or currencies);
(ii) commercial paper issued by a member of the Group (other than the Company) for its working capital purposes in relation to its day-to-day operations;
(iii) local liquidity facilities specified in the Local Facilities List entered into by a member of the Group (other than the Company) existing as at the Signing Date and which are permitted pursuant to Clause 20.7 (Subsidiary indebtedness) and Clause 20.8 (Company indebtedness) (and any refinancing of such facilities for the same or a lesser amount, excluding any fees paid to the lenders in respect of such refinancing) up to the amount specified in the Local Facilities List;
(iv) new local liquidity facilities entered into by a member of the Group (other than the Company) after the Signing Date and which are permitted pursuant to Clause 20.7 (Subsidiary indebtedness) and Clause 20.8 (Company indebtedness) for specified purposes from time to time agreed between the Company and the Majority Lenders in a maximum aggregate amount not exceeding €100,000,000 (or its equivalent in another currency or currencies) (and any refinancing of such facilities for the same or a lesser amount, excluding any fees paid to the lenders in respect of such refinancing); or
(v) this Agreement or the other Facility Agreements in the agreed form on the Signing Date.
(c) For the purposes of this Agreement, “Debt Proceeds” means any amounts received or recovered by the Company or any member of the Group (other than from any other member of the Group) by way of the incurrence of, issue or subscription for or other acquisition of any debt capital market issues by the Company or an...
Debt Proceeds. The Borrowers shall make mandatory principal ------------- prepayments of the Term Loans in the manner set forth in Section 4.4(c)(vi) in amounts equal to one hundred percent (100%) of the aggregate Net Cash Proceeds from any issuance of Debt permitted by Section 11.1(c) (other than the Net Cash Proceeds from Debt issued and utilized to finance an Expanded Business Plan or issued and utilized to replace Tranche 2 Equity) by the Company, any Borrower or any of their respective Subsidiaries. Such prepayment shall be made within three (3) Business Days after the date of issuance of any such Debt.
Debt Proceeds. The Borrower shall make mandatory principal prepayments of the Loans and/or Cash Collateralize the L/C Obligations in the manner set forth in Section 4.4(b)(v) below in amounts equal to one hundred percent (100%) of:
(A) the aggregate Net Cash Proceeds from any incurrence of Permitted Senior Notes permitted pursuant to Section 11.1(o); and
(B) the aggregate Net Cash Proceeds in excess of $1,000,000 in the aggregate during any Fiscal Year from any incurrence of Debt by the Borrower or any of its Restricted Subsidiaries not otherwise permitted pursuant to Section 11.1. Any such prepayment shall be made within three (3) Business Days after the date of receipt of Net Cash Proceeds of any such transaction.
Debt Proceeds. (A) The Domestic Borrower shall make mandatory principal prepayments of the Term Loans in the manner set forth in Section 4.4(b)(v) below in amounts equal to one hundred percent (100%) of the aggregate Net Cash Proceeds from any incurrence of Senior Debt permitted pursuant to Section 11.1(j) or any other Senior Debt not permitted hereunder (but otherwise consented to by the Required Lenders) by the Domestic Borrower or any of its Subsidiaries; provided that such mandatory principal prepayment shall not be required if (1) the utilization of the Revolving Credit Commitment less all cash on the balance sheet of the Domestic Borrower and its Subsidiaries (excluding the proceeds of such Senior Debt) exceeds fifty percent (50%) of the Revolving Credit Commitment both before and after giving effect to such incurrence of Senior Debt, (2) no Default or Event of Default has occurred and is continuing both before and after giving effect to such incurrence of Senior Debt and (3) the Borrower shall have delivered to the Administrative Agent evidence, in form and substance satisfactory to the Administrative Agent, demonstrating pro forma compliance with each covenant contained in Articles X and XI. Such prepayment shall be made within three (3) Business Days after the date of receipt of Net Cash Proceeds of any such transaction.
(B) The Domestic Borrower shall make mandatory principal prepayments of the Term Loans in the manner set forth in Section 4.4(b)(v) below in amounts equal to fifty percent (50%) of the aggregate Net Cash Proceeds from any incurrence of Subordinated Debt permitted pursuant to Section 11.1(i) or any other Subordinated Debt not permitted hereunder (but otherwise consented to by the Required Lenders) by the Domestic Borrower or any of its Subsidiaries. Such prepayment shall be made within three (3) Business Days after the date of receipt of Net Cash Proceeds of any such transaction.
Debt Proceeds. 100% of the net cash proceeds of issuances of debt obligations of the Borrower and its subsidiaries after the Closing Date (excluding debt permitted under the Second Lien Loan Documents, but including Refinancing Facilities). Each Second Lien Lender will have the right to reject its pro rata share of any mandatory prepayment, in which case the amounts so rejected will be retained by the Borrower (with no obligation to repay such loans in the future). The documentation governing the First Lien Notes and the ABL Credit Facility shall permit mandatory prepayments under the Second Lien Facility with Declined Amounts (as defined below) regardless of whether any First Lien Notes or loans under the ABL Credit Facility are outstanding. Notwithstanding the foregoing, upon any event triggering a mandatory prepayment, such excess cash or proceeds shall first be applied to prepay the First Lien Notes or ABL Credit Facility pursuant to any mandatory prepayment provisions of the documents governing such debt and the Intercreditor Agreements in each case as in effect on the Closing Date; provided, that if any lender under the First Lien Notes or ABL Credit Facility declines any such mandatory prepayment required pursuant to the terms of the documents governing such debt and the Intercreditor Agreements in each case as in effect on the Closing Date, or such excess cash or proceeds is otherwise not applied to prepay the First Lien Notes or ABL Credit Facility (each a “Declined Amount”), then such Declined Amount shall be applied to prepay the Second Lien Facility in accordance with the foregoing mandatory prepayments provision.
Debt Proceeds. The Aggregate Commitment shall be automatically and permanently reduced in an amount equal to one hundred percent (100%) of the aggregate Net Cash Proceeds received by the Borrower or any of its Subsidiaries arising from any incurrence of Indebtedness by the Borrower or any Subsidiary thereof that is not permitted pursuant to Section 10.1 but is otherwise consented to by Required Lenders, such reduction to occur on the third (3rd) Business Day following receipt of such Net Cash Proceeds; provided that no commitment reduction shall be required under this Section 2.6(b)(i) if (A) the Leverage Ratio (calculated on a pro forma basis as of the date of the proposed incurrence of Indebtedness and after giving effect thereto) shall be less than 2.50 to 1.00 and (B) no Default or Event of Default shall have occurred or be continuing or would result from such incurrence of Indebtedness. This provision shall not be deemed to permit any incurrence of Indebtedness by the Borrower or any of its Subsidiaries not otherwise permitted hereunder.
Debt Proceeds. The Borrower shall make mandatory principal prepayments of the Term Loans in the manner set forth in Section 4.4(b)(vi) below in amounts equal to one hundred percent (100%) of the aggregate Net Cash Proceeds from any incurrence of Debt in excess of $500,000 in any Fiscal Year (other than Net Cash Proceeds from Debt under this Agreement and Sections 11.1(c) through 11.1(j)) by the Borrower or any of its Subsidiaries. Such prepayment shall be made within three (3) Business Days after the date of receipt of Net Cash Proceeds of any such transaction. (This provision shall not be deemed to permit the incurrence of Debt not otherwise permitted pursuant to this Agreement.)
